M
mountainannie
Guest
FYI -
If any USA expats are under 65 and considering returning to the USA in their later years --
info on the rules for Medicare -
If you are eligible for "free" Medicare (have worked and paid in for 40 quarters) and do not sign up for Part A (hospital insurance) in the original enrollment period, you will pay a penalty of 10% for twice as long as the time that you did not enroll. (did not enroll until age 67 - you will pay the penalty for 4 years)
If you do not sign up for Part B (doctors) when first eligible (last year premium was $135.50 per month for most)
If you do not sign up for Part B when first eligible, your premium may go up 10% for each year that you were not enrolled. THIS PENALTY IS PERMANENT.
Thus - if you do not file for Part B until you are 75, your premium will be 100% of $135 (I am not sure exactly how they compute the compounding - but you get the picture).
There is also a penalty added if you do not sign up for Medicare Part D (drug plan) when you are first eligible. That penalty is fixed now at 1% per month. Average cost of this insurance is about $33 per month. THIS PENALTY IS PERMANENT.
Enrolling in some Medicare Advantage plans may circumvent the penalties and costs for both PartB and Part D --
Note that Medicare only covers 80% of costs - you are responsible for the other. Some Medicare Advantage plans cover the entire costs but also limit the range of doctors and hospitals that are included and require referrals to specialists.
Medicare Supplemental Insurance plans which cover a certain percentage of the other costs are available at varying costs but must also be enrolled in at age 65 in order to guarantee acceptance. Otherwise, a health questionaire or exam may be required.
I do not know how enrollment in Medicare or Medicare Advantage plans work for those who do not have a USA address. Perhaps others can speak to this.
(estimated mean capital spending in the last year of life is $80k https://www.healthaffairs.org/doi/full/10.1377/hlthaff.2017.0174)
If any USA expats are under 65 and considering returning to the USA in their later years --
info on the rules for Medicare -
If you are eligible for "free" Medicare (have worked and paid in for 40 quarters) and do not sign up for Part A (hospital insurance) in the original enrollment period, you will pay a penalty of 10% for twice as long as the time that you did not enroll. (did not enroll until age 67 - you will pay the penalty for 4 years)
If you do not sign up for Part B (doctors) when first eligible (last year premium was $135.50 per month for most)
If you do not sign up for Part B when first eligible, your premium may go up 10% for each year that you were not enrolled. THIS PENALTY IS PERMANENT.
Thus - if you do not file for Part B until you are 75, your premium will be 100% of $135 (I am not sure exactly how they compute the compounding - but you get the picture).
There is also a penalty added if you do not sign up for Medicare Part D (drug plan) when you are first eligible. That penalty is fixed now at 1% per month. Average cost of this insurance is about $33 per month. THIS PENALTY IS PERMANENT.
Enrolling in some Medicare Advantage plans may circumvent the penalties and costs for both PartB and Part D --
Note that Medicare only covers 80% of costs - you are responsible for the other. Some Medicare Advantage plans cover the entire costs but also limit the range of doctors and hospitals that are included and require referrals to specialists.
Medicare Supplemental Insurance plans which cover a certain percentage of the other costs are available at varying costs but must also be enrolled in at age 65 in order to guarantee acceptance. Otherwise, a health questionaire or exam may be required.
I do not know how enrollment in Medicare or Medicare Advantage plans work for those who do not have a USA address. Perhaps others can speak to this.
(estimated mean capital spending in the last year of life is $80k https://www.healthaffairs.org/doi/full/10.1377/hlthaff.2017.0174)